The Indian tire industry has witnessed an increase in the demand for manufacturing tires for export as well as for domestic sales. Increasing vehicle ownership is helping the tire industry. There is also an increase in the demand for truck and bus tires due to increasing mobility and industrialisation. Research and development (R&D) and the launch of advanced and environmentally friendly tires also contribute to the growth of the tire market.
Currently, the import authorizations for new tires have been placed in the “Restricted Category” according to notification No. apply for the import license for the tires covered by the aforementioned notification.
Considering the overall growth of the tire industry in India, the Ministry of Trade and Industry has proposed new guidelines for tire manufacturers; committing to invest in India in brownfield or greenfield projects for the production of tires, included in the Restricted List. Specific details are available from the relevant Division of the Department for the Promotion of Industry and Domestic Trade (DPIIT).
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